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LatinNews Daily - 02 June 2020
In brief: Brazil’s trade surplus shrinks in May
* Brazil’s economy ministry has released the latest trade balance figures, according to which the country recorded a US$4.5bn trade surplus in May. This is the lowest surplus recorded for May since 2015, and represents a 19.1% decrease on the May 2019 trade surplus. The value of exports totalled US$17.94bn in May 2020, a 4.2% decrease on last year driven by a fall in industrial exports, while the value of imports fell by 1.6% to US$13.39bn. The economy ministry has stressed that the volume of exports actually grew 5.6% year-on-year, despite the coronavirus (Covid-19) pandemic, driven by an increase in agricultural exports. The agro-industrial sector is the only sector to have seen both the value and the volume of its exports increase in May.
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